Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Swedish nation-wide tabloid newspaper Expressen announced that it is cutting 70 jobs in order to reduce costs. Approximately 50 positions will be cut from newsroom services and the restructuring will affect all three newsrooms of the tabloid, in Stockholm, Gothenburg and Malmo. The cost saving plan will have full effect by the start of 2015.
The nature of the job-reduction measures is yet unknown. 'I am reluctant to comment on the reduction measures before we have conducted negotiations with the union' - said Editor in Chief Thomas Mattsson in response to the announcement.
Expressen is one of the leading tabloid newspapers in Sweden with an annual turnover of 1.3 billion SEK (approximately €1.4 million) and a total of 530 employees. In 2001 the company underwent a major restructuring to increase its cost effectiveness.
Eurofound (2014), Kvällstidningen Expressen, Internal restructuring in Sweden, factsheet number 77503, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77503.
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